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CSE brokers back in police custody

The special cell of Kolkata police probing the Rs 150 crore (Rs 1.5 billion) payment scam at the Calcutta Stock Exchange told the Chief Metropolitan Magistrate S C Mishra that siphoning off of funds through hawala channels had led to the crisis, as the court remanded the eight accused back to police custody.

Mishra granted the police prayer for remanding the eight back to PC from judicial custody.

The eight were -- managing director of SREI Securities Dinesh Jain, Kishen Kumar Sharma, an employee of Mega Stock, a firm owned by former CSE president and one of the accused Dinesh Singhania and six brokers, Harish Chander Biyani, Ramesh Chander Biyani, Raj Kr Jain, Gopal Singhania, Vijay Singhania and Basudeo Singhania.

They had been remanded on October 4 to judicial custody till November 15 by the 9th Metropolitan Magistrate, in the absence of the CMM.

The six brokers, arrested on September 25, had been in police custody till October 4 before being put in judicial remand.

SREI Securities managing director Dinesh Jain, arrested on October three, was remanded to police custody till October 17 and Mega Stock employee Kishen Kumar Sharma till October 14.

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